FX.co ★ Canadian Building Permits Beat Forecasts

Canada’s building permits surged 18.5% month-over-month to C$14.9 billion in June 2026, sharply reversing a 1.7% decline in May and far surpassing expectations for a 0.8% gain. This is the highest level in more than two years.

Non-residential building permits rose by C$1.8 billion to C$6.8 billion, driven primarily by the institutional sector, which jumped C$1.5 billion to C$3.2 billion. Industrial permits increased by C$268.8 million, while commercial permits were up C$67.9 million.

On the residential side, construction intentions advanced C$479.7 million, or 6.3%, to C$8.1 billion. The rise was led by multi-unit projects, which grew by C$283.7 million to C$5.3 billion, alongside single-family homes, which increased by C$196 million to C$2.8 billion.

For the second quarter of 2026 as a whole, the total value of building permits climbed 3.7% quarter-over-quarter to C$40.4 billion.